Yeosu City Supports Startup and Housing Purchase Funds for Returning Fishermen

Startup Capital 300 Million Won, Housing Purchase Fund 75 Million Won

Yeosu City, Jeollanam-do (Mayor Jeong Gi-myeong) announced that it will promote the ‘2024 Return-to-Fishing Startup and Housing Purchase Support Project’ to ensure stable settlement of urban residents in fishing villages and revitalize fishing village areas.

The ‘Return-to-Fishing Startup and Housing Purchase Support’ project provides loans with an interest rate of 1.5%, a 5-year grace period, and a 10-year installment repayment plan, offering up to 300 million KRW for startup funds and up to 75 million KRW for housing purchase funds.

[Photo by Yeosu City]

Eligible applicants must be return-to-fishing fishermen or resident non-fishermen aged 65 or younger (born after January 1, 1958) as of the application year and meet the application requirements specified in the project guidelines.

Return-to-fishing fishermen must have lived outside fishing villages for at least one year before moving to a rural fishing village area and must have moved into the fishing village area within the last five years.

Resident non-fishermen must have been registered residents in rural areas for more than one year and have no fishing or aquaculture experience within the last five years as of the application year to be eligible.

Applicants who score 60 points or higher based on the project guideline evaluation criteria will be selected as candidate recipients by the city and reported to the Ministry of Oceans and Fisheries for final selection.

Meanwhile, Yeosu City has provided approximately 25.2 billion KRW in loans to 87 people over the past five years.

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr